Person
Mohamed Mihad
Described in the news as: Director.
In the news, last 90 days
Economy
State-owned dredging company spends MVR 1.05 billion without generating any revenue
The Auditor General's Office reported that Peninsula Infrastructure Private Limited, a wholly-owned subsidiary of MACL set up for dredging and land reclamation at Velana International Airport, generated no revenue from October 8, 2026 through the end of that year, recording a loss of MVR 31,000. The report also states the company spent MVR 1.05 billion on projects through the end of 2025, offset against debt owed to MACL, which has given written assurance to fund its operations.
Where and about what
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